TechNet Applauds Announcement that House Ways and Means Committee Will Consider International Tax Legislation in 2016
Washington, D.C. — Congressman Kevin Brady (R-TX), Chairman of the House Ways and Means Committee, yesterday announced his plans to bring up international tax reform for a vote early in 2016.
“Last October, TechNet urged the White House and Congress to work together to pass international tax legislation that encourages innovative companies to maintain and grow jobs in the U.S.,” said Linda Moore, President and CEO of TechNet. “Chairman Brady’s announcement is a significant step toward this goal.”
“There is a window of opportunity to act on international tax reform. If we don’t, American job creation is at risk. The actions by our trading partners have created an immediate need for legislation to reform our system of international taxation.”
Driven by the OECD and the European Union, some of America’s largest trading partners are on the verge of implementing changes that will increase foreign taxes on U.S. businesses, erode the U.S. tax base, and create incentives for jobs to be created abroad rather than at home.
TechNet is the national, bipartisan network of CEOs and senior executives that promotes the growth of the technology industry by building long-term relationships between technology leaders and policymakers and by advocating a targeted policy agenda at the federal and 50-state level. TechNet has offices in Washington, D.C., Silicon Valley, Sacramento, Seattle, Boston, and Austin.